In Australia, the cash rate fell twice in 2011 – down by 25 basis points, or a quarter of a percent in both November and December.

Global sharemarkets generally fell over 2012. In fact only eight of 73 sharemarkets tracked by CommSec have managed to post gains. Overall the Australian All Ordinaries index fell by 15.2 per cent in 2011 after edging 0.1 per cent higher in 2010. The ASX 200 fell by 14.5 per cent.

Bonds outperformed shares for another year. Ten-year bond yields fell to 3.74 per cent in December 2011 – the lowest result in 60 years (since 1951).

For a full review of the year that was, click here.

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